Early signs from Saudi Arabia's earnings season show the country's banking sector steamed ahead during the fourth quarter, with blowout earnings at each of the kingdom's lenders having reported so far. The profit growth figures are the envy of almost every bank in the region.
Banque Saudi Fransi topped expectations last week with profits for the fourth quarter of 808 million Saudi riyals, an increase of 22.2 per cent when compared with the same period in 2011.
Saudi Hollandi then followed on Saturday with profits of 313.4 million riyals, a 35.5 per cent increase on the same period a year earlier.
Saudi Arabian banks report high earnings - The National
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